A Scientific Money Standard
A Scientific Money Standard
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In our eReader you can find the full English version of the book. Read A Scientific Money Standard Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book A Scientific Money Standard
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If a supply of money cannot be put in circulation to meet the demand for money, credit will cease, and panic, suspension, and bankruptcy will follow until equilibrium is restored.
The cause for the ever-recurring phenomenon of periodical prosperity, followed by hard times, is easily understood when the volume of demand obligations of a country compared with the stock of standard money is known, together with the fact that when gold becomes scarce, all credit institu- tions are compelled to cont...ract their loans and limit credits in the effort to increase their reserve of gold to meet probable demands for deposits payable on demand, or to meet maturing obligations which will be demanded in gold when the scarcity has placed gold at a premium. The state of the money market which precipitates the cessation of credit also increases the withdrawal of deposits, and if the [6] > A SCIENTIFIC MONEY STANDARD panic is unchecked, the strongest banking institu- tions are bound to suspend specie payment, for there is not gold enough in the world to pay the demand obligations of any great country, if they should all be presented for payment.
What to read after A Scientific Money Standard?
You can find similar books in the "Read Also" column, or choose other free books by Elias Lowe Mcclure to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
If a supply of money cannot be put in circulation to meet the demand for money, credit will cease, and panic, suspension, and bankruptcy will follow until equilibrium is restored.
The cause for the ever-recurring phenomenon of periodical prosperity, followed by hard times, is easily understood when the volume of demand obligations of a country compared with the stock of standard money is known, together with the fact that when gold becomes scarce, all credit institu- tions are compelled to cont...ract their loans and limit credits in the effort to increase their reserve of gold to meet probable demands for deposits payable on demand, or to meet maturing obligations which will be demanded in gold when the scarcity has placed gold at a premium. The state of the money market which precipitates the cessation of credit also increases the withdrawal of deposits, and if the [6] > A SCIENTIFIC MONEY STANDARD panic is unchecked, the strongest banking institu- tions are bound to suspend specie payment, for there is not gold enough in the world to pay the demand obligations of any great country, if they should all be presented for payment.
What to read after A Scientific Money Standard?
You can find similar books in the "Read Also" column, or choose other free books by Elias Lowe Mcclure to read onlineMoreLess
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